DeFi Development Corp. (NASDAQ: DFDV) announced on February 26 2026 that it has become the first institutional investor in Apyx, a dividend‑backed stablecoin (DBS) protocol that generates yield from preferred equity issued by digital‑asset treasuries (DATs).
Apyx’s model turns publicly listed company dividend streams into on‑chain yield, positioning it within a stablecoin market that is estimated to exceed $300 billion. By investing in Apyx, DFDV gains early exposure to a new asset class that can complement its existing Solana (SOL) holdings and staking operations.
DFDV’s treasury strategy has long focused on accumulating and compounding SOL while creating additional income streams. The Apyx investment aligns with the company’s goal of building a closed‑end‑fund‑style vehicle that compounds SOL and generates yield from the stablecoin’s underlying DATs. The move also signals DFDV’s intent to broaden its treasury playbook beyond direct crypto holdings.
DFDV’s recent financial performance underscores the strategic fit of the investment. In Q3 2025, the company reported earnings per share of $1.88 versus an estimate of –$0.33, a substantial beat driven by strong revenue growth and disciplined cost management. Revenue for the quarter reached $4.60 million, up from $2.52 million in estimates, while net income of $56.0 million translated into a net margin of 1,211.4%. The company’s FY2024 operating margin was –143.1%, and it has revised its June 2026 SOL per share forecast down to 0.085 from 0.165, reflecting a more cautious short‑term outlook while maintaining a long‑term target of 1.0 SPS by December 2028.
Apyx’s funding history illustrates the rapid traction it has gained. The protocol closed a seed round in January 2026 at a $70 million valuation and a strategic funding round on February 23 2026 at a $300 million valuation, raising a total of $3 million across two oversubscribed rounds. DFDV’s participation as the first institutional investor follows these rounds, positioning it to benefit from Apyx’s growth trajectory.
Joseph Onorati, CEO of DeFi Development Corp., said, “We view Apyx as important infrastructure for the emerging Digital Asset Treasury ecosystem. By sourcing yield from preferred equity issued by DATs, Apyx creates a feedback mechanism that can help bridge publicly listed balance sheet yield into onchain markets. As a DAT ourselves, this investment reflects both strategic alignment and financial conviction.”
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.